Types of Risk
I can describe types of risk and explain ways to handle risk
Example- Someone investing money into something that might not work or benefit the company.
Example- Loss of someone in your family.
Example- A deer eating your crops.
Example- Investing in a product not knowing whether it will make money or not.
Example- Living a seditary lifestyle.
Example- Having a heart attack
Example- House getting flood damage and insurance company gets involved in building your house back.
Example- A hurricane hitting your hometown and destroying homes.
Example of a risk
Ways that a Business can manage risk
2. Tansfer, allow someone else to assume the risk.
3. Insur, purchasing insurance to cover risk
4. Assume, finishing an activity and accepting full responsibility